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The DIBS Method... No Free Lunch continues

  • #341
  • May 21, 2008 5:27am May 21, 2008 5:27am
Quoting Shefa
Hi Jim,

There are several IB's created just now. Do you think it is too late to consider them ?

thanks for your reply,

Shefa.
I see those IB's too, and going for it. Maybe take smaller lotsize on GBP/USD cause there are US news coming, and the pair is moving above Week's open. USD/CHF is moving below Week's open, i think is a "hotter" hand

Shefa, Those things happen to all... Do not worry. Like another great FF trader (feb2856, some great threads too) alway say, "Keep one ear on the floor"... News time, best to do is watch....

Cheers!

Edit: Now I'm going to "work".... in a couple hours I'm back for lunch and will see the mess...
Many share my views with me. But I don't share them with them...
  • #342
  • May 21, 2008 5:28am May 21, 2008 5:28am
Quoting jarroo
Which candle? The 0800 GMT?
Hi Jim,
Hope you understand the chart. You can see the green entrance line a little bit bellow IB bottom, and red S.L. line a little bit above IB top.

Thanks for your help,

Shefa
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad 60 min.gif Size: 41 KB
  • #343
  • May 21, 2008 5:28am May 21, 2008 5:28am
Quoting CHECKstar
I have put in my sell orders @ 1.0322...
Let's see now; Usd/Chf - 4 hour, Daily and Weekly time frames look to be in a downtrend. Looking good CHECK.
Indicators show the past. Price Action "Indicates" the future.
  • #344
  • May 21, 2008 5:29am May 21, 2008 5:29am
I have a buy order on U/C
why is the consensus a sell order? ( please help)
I though we only sell or buy in the direction that the day started in
or do I sell about below the break of the last candle whichever happens first?

i am a little lost here

Quoting CHECKstar
I have put in my sell orders @ 1.0322...
  • #345
  • May 21, 2008 5:29am May 21, 2008 5:29am
Quoting Shefa
Hi Jim,
Hope you understand the chart. You can see the green entrance line a little bit bellow IB bottom, and red S.L. line a little bit above IB top.

Thanks for your help,

Shefa
Looks perfect. Go with it.
Indicators show the past. Price Action "Indicates" the future.
  • #346
  • May 21, 2008 5:31am May 21, 2008 5:31am
Quoting Peterinforex
I have a buy order on U/C
why is the consensus a sell order? ( please help)
I though we only sell or buy in the direction that the day started in
or do I sell about below the break of the last candle whichever happens first?

i am a little lost here

Inside Bar is below the Open of the day. We only take shorts off the bottoms of the IB.
Indicators show the past. Price Action "Indicates" the future.
  • #347
  • May 21, 2008 5:33am May 21, 2008 5:33am
ahhh ... got it.
thanks
Quoting jarroo
Inside Bar is below the Open of the day. We only take shorts off the bottoms of the IB.
  • #348
  • May 21, 2008 5:34am May 21, 2008 5:34am
CHECK and CKECKMATE!
Indicators show the past. Price Action "Indicates" the future.
  • #349
  • May 21, 2008 5:37am May 21, 2008 5:37am
Free trade CHECK. This baby could go on for weeks. Look at the Daily and Weekly charts.

CHECK is the Man.
Indicators show the past. Price Action "Indicates" the future.
  • #350
  • May 21, 2008 5:39am May 21, 2008 5:39am
Quoting Peterinforex
I have a buy order on U/C
why is the consensus a sell order? ( please help)
I though we only sell or buy in the direction that the day started in
or do I sell about below the break of the last candle whichever happens first?

i am a little lost here
To my understanding, the opening price is a reference. U will also need to put the trend into consideration. I take the short entry. look at the chart I attached it's a clear downtrend. confirmed by h4 and d1.

The horizontal blue line is the opening price, the other blue line is the trend line. Red circle is a IB and the pink line is where I was in.

Hope I am right
Attached Image (click to enlarge)
Click to Enlarge Name: h1 ucad.gif Size: 19 KB
  • #351
  • May 21, 2008 5:40am May 21, 2008 5:40am
  •  Trader#0000
  • | Status: Unregistered Trader
Quoting jarroo
Free trade CHECK. This baby could go on for weeks. Look at the Daily and Weekly charts.

CHECK is the Man.
Not quite there for me.... tight ass Oanda's low so far has been 1.0300... a couple of points off my free trade price.
  • #352
  • May 21, 2008 5:42am May 21, 2008 5:42am
Quoting CHECKstar
Not quite there for me.... tight ass Oanda's low so far has been 1.0300... a couple of points off my free trade price.
You'll get there easy.
Indicators show the past. Price Action "Indicates" the future.
  • #353
  • May 21, 2008 5:44am May 21, 2008 5:44am
Quoting jarroo
Inside Bar is below the Open of the day. We only take shorts off the bottoms of the IB.
I am a bit confused here. I comparing the opening price to the IB or the breaking price?
  • #354
  • May 21, 2008 5:45am May 21, 2008 5:45am
Quoting robincys
To my understanding, the opening price is a reference. U will also need to put the trend into consideration. I take the short entry. look at the chart I attached it's a clear downtrend. confirmed by h4 and d1.

The horizontal blue line is the opening price, the other blue line is the trend line. Red circle is a IB and the pink line is where I was in.

Hope I am right
You couldn't be more perfect rob.
Indicators show the past. Price Action "Indicates" the future.
  • #355
  • May 21, 2008 5:46am May 21, 2008 5:46am
Quoting jarroo
CHECK and CKECKMATE!
Still not in free USD/CHF trade yet... almost there...

My patients must be kind of "inpatient" right now...

Great thread. Been following since the great Peter Crown's "classes" in Bemac's thread. Great job all of you have done. IMHO these are among the best 5% threads of all FF.

Cheers!

MUST go!
Many share my views with me. But I don't share them with them...
  • #356
  • May 21, 2008 5:51am May 21, 2008 5:51am
Quoting robincys
I am a bit confused here. I comparing the opening price to the IB or the breaking price?
Right. Both.
Indicators show the past. Price Action "Indicates" the future.
  • #357
  • May 21, 2008 5:51am May 21, 2008 5:51am
Hi Jarroo,

re GU atm, it's down on the day but up trend stair stepping has been in place since the May 13th swing low...will you be taking GU short or long today?....or will you just leave it for now?
  • #358
  • Edited 3:13pm May 21, 2008 5:56am | Edited 3:13pm
Quoting ChowClown
Hi Jarroo,

re GU atm, it's down on the day but up trend stair stepping has been in place since the May 13th swing low...will you be taking GU short or long today?....or will you just leave it for now?
Excellent point Chow. The higher probability trade would be to have an IB above the Open today but it's the opposite today. Smart traders, like us ,would let it alone until the highest probablility trade presented itself.

But I am still in the practise mode and probably would take it following no0odle's rules.
Indicators show the past. Price Action "Indicates" the future.
  • #359
  • May 21, 2008 5:57am May 21, 2008 5:57am
Good stuff ROb

the gist is here for those who were as lost as I was
http://www.forexfactory.com/showthre...t=56907&page=2

sorry for the confusion
Quoting robincys
To my understanding, the opening price is a reference. U will also need to put the trend into consideration. I take the short entry. look at the chart I attached it's a clear downtrend. confirmed by h4 and d1.

The horizontal blue line is the opening price, the other blue line is the trend line. Red circle is a IB and the pink line is where I was in.

Hope I am right
  • #360
  • May 21, 2008 5:57am May 21, 2008 5:57am
Quoting HouseTrader
I see those IB's too, and going for it. Maybe take smaller lotsize on GBP/USD cause there are US news coming, and the pair is moving above Week's open. USD/CHF is moving below Week's open, i think is a "hotter" hand

Shefa, Those things happen to all... Do not worry. Like another great FF trader (feb2856, some great threads too) alway say, "Keep one ear on the floor"... News time, best to do is watch....

Cheers!

Edit: Now I'm going to "work".... in a couple hours I'm back for lunch and will see the mess...
Thank you HouseTrader for your support.
In the USD/CHF I am profoting. GBP/USD did not move much - probably also worried about the news.

Bonapetite (?),

Shefa.
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